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Æonara: Difference between revisions
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As predicted, reunification brought on dramatic changes to Æonaran trade dynamics. Æonara had by then been punching above its weight in global trade for several decades, and a reunification redirected the patterns of its commercial relations away from its established foreign trading partners and peripheral overseas colonies and toward the opening Mainland market. Integration with the Kiravian Mainland provided access to a massive, thitherto untapped domestic market, presenting new opportunities for Æonaran businesses, especially those selling {{wp|consumer goods|consumer}} and light {{wp|capital goods}}, and professional services. On the flipside, it also decimated many local Æonaran industries (such as bauxite and coal mining), and killed critical public subsidies to strategically-important sectors and to industries oriented toward exports to other advanced economies, these government funds being needed to finance the political transition and economic reconstruction on the Mainland. {{wp|Foreign direct investment}} patterns were also similarly affected: Æonara had been a major beneficiary of significant foreign investment due to its stable political environment and robust economic fundamentals. Reunification and liberalisation of the former Kiravian Union altered the perception of Æonara as a separate investment destination from the Mainland, resulting in the redirection of some foreign investment towards Great Kirav-based enterprises, largely at the expense of Æonara's FDI inflows. However, the attractiveness of Æonara's skilled workforce, technological capabilities, and transparent legal framework did help to retain and attract foreign investment, even in the midst of such changes. | As predicted, reunification brought on dramatic changes to Æonaran trade dynamics. Æonara had by then been punching above its weight in global trade for several decades, and a reunification redirected the patterns of its commercial relations away from its established foreign trading partners and peripheral overseas colonies and toward the opening Mainland market. Integration with the Kiravian Mainland provided access to a massive, thitherto untapped domestic market, presenting new opportunities for Æonaran businesses, especially those selling {{wp|consumer goods|consumer}} and light {{wp|capital goods}}, and professional services. On the flipside, it also decimated many local Æonaran industries (such as bauxite and coal mining), and killed critical public subsidies to strategically-important sectors and to industries oriented toward exports to other advanced economies, these government funds being needed to finance the political transition and economic reconstruction on the Mainland. {{wp|Foreign direct investment}} patterns were also similarly affected: Æonara had been a major beneficiary of significant foreign investment due to its stable political environment and robust economic fundamentals. Reunification and liberalisation of the former Kiravian Union altered the perception of Æonara as a separate investment destination from the Mainland, resulting in the redirection of some foreign investment towards Great Kirav-based enterprises, largely at the expense of Æonara's FDI inflows. However, the attractiveness of Æonara's skilled workforce, technological capabilities, and transparent legal framework did help to retain and attract foreign investment, even in the midst of such changes. | ||
After Reuinification had been ''fait accompli'' for a few years, its economic and social impact became more visible and tangible to the average Æonaran, especially so when it came in the form of enterprise relocations and job losses. During the Civil War, many major antebellum Kiravian corporations, for example the [[Bay Trading Company]], had fled Great Kirav and established new headquarters on Æonara from which they continued their operations. After Reunification, most of these corporations returned their headquarters to the Mainland, and even some companies founded on Æonara moved their main offices to Great Kirav to gain a more secure foothold in the rapidly opening business landscape there. Hundreds of thousands more jobs (and billions in public expenditure) left Æonara as the Federal government gradually moved its bloated bureaucratic apparatus back to [[Kartika]]. The knock-on effects of this move for local economies and for sectors such as education were negative and severe. | |||
==Politics and Governance== | ==Politics and Governance== | ||